August 14, 2025
United States:
US Producer Prices Rise by Most in Three Years on Services
US wholesale inflation accelerated in July by the most in three years, suggesting companies are passing along higher import costs related to tariffs.
The producer price index increased 0.9% from a month earlier, the largest advance since consumer inflation peaked in June 2022, according to a Bureau of Labor Statistics report out Thursday. The PPI rose 3.3% from a year ago.
Europe:
UK Growth Tops G-7 as Government Spending Helps Fuel Economy
The UK economy fared better than expected in the second quarter, bringing some relief for Chancellor of the Exchequer Rachel Reeves but raising the bar to further interest-rate cuts from the Bank of England.
Gross domestic product rose 0.3%, the Office for National Statistics said Thursday, beating the 0.1% forecast by both private-sector economists and the UK central bank.
Asia:
Yen Outperforms Peers After Bessent Suggests Narrowing Rate Gap
The yen outperformed all its major peers on Thursday after US Treasury Secretary Scott Bessent made comments suggesting the Federal Reserve and Bank of Japan adjust their policy rates.
Japan’s currency gained as much as 0.7% to 146.34 against the dollar, its strongest level in about three weeks. The move comes after Bessent urged the Fed to lower rates by 150 basis points or more, and said the BOJ is falling behind the curve in addressing inflation.
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